0001437749-24-035313 | 10-Q | XBRL Viewer

Note 9 - Segment Information

9 Months Ended

Sep. 30, 2024

Segment Reporting Disclosure [Text Block]

9.	Segment Information

Select statement of operations activity of the Company’s reportable segments for the periods presented were (in thousands):

	*Three Months Ended*						*Nine Months Ended*
	*September 30,*						*September 30,*
	*2024*			*2023*			*2024*			*2023*
Net revenues:
Americas	$	35,494		$	53,796		$	144,189		$	154,457
APAC		2,294			5,674			11,305			17,432
EMEA		-			7,863			8,277			25,760
Total net revenues	$	37,788		$	67,333		$	163,771		$	197,649

Operating (loss) income:
Americas	$	(1,089	)	$	1,328		$	14,569		$	5,894
APAC		(403	)		(218	)		(822	)		(510	)
EMEA		-			431			227			1,304
Total operating (loss) income	$	(1,492	)	$	1,541		$	13,974		$	6,688

Interest expense
Americas	$	581		$	264		$	1,577		$	895
APAC		1			31			24			47
EMEA		-			85			77			306
Total interest expense	$	582		$	380		$	1,678		$	1,248

Other expense (income), net:
Americas	$	(807	)	$	5		$	(1,101	)	$	22
APAC		556			(59	)	$	572			(69	)
EMEA		723			(110	)		713			(300	)
Total other expense (income), net	$	472		$	(164	)	$	184		$	(347	)

(Loss) Income before income tax expense:
Americas	$	(82	)	$	1,059		$	13,666		$	4,977
APAC		(1,752	)		(190	)		209			(488	)
EMEA		(712	)		456			(1,763	)		1,298
Total (loss) income before income tax expense	$	(2,546	)	$	1,325		$	12,112		$	5,787

Income tax (benefit) expense:
Americas	$	(1,827	)	$	(163	)	$	1,220		$	1,068
APAC		(166	)		45			(126	)		8
EMEA		(321	)		345			(6	)		730
Total income tax (benefit) expense	$	(2,314	)	$	227		$	1,088		$	1,806

Net (loss) income, depreciation and amortization expense, and capital expenditures of the Company’s reportable segments for the periods presented were (in thousands):

	*Three Months Ended*						*Nine Months Ended*
	*September 30,*						*September 30,*
	*2024*			*2023*			*2024*			*2023*
Net (loss) income:
Americas	$	1,745		$	1,222		$	12,446		$	3,909
APAC		(1,586	)		(235	)		335			(496	)
EMEA		(391	)		111			(1,757	)		568
Total net (loss) income	$	(232	)	$	1,098		$	11,024		$	3,981

Net loss (income) attributable to non-controlling interest
Americas	$	104		$	(604	)	$	(658	)	$	(1,484	)
APAC		(16	)		5			30			(11	)
EMEA		-			(240	)		(286	)		(722	)
Total net loss (income) attributable to non-controlling interest	$	88		$	(839	)	$	(914	)	$	(2,217	)

Net (loss) income attributable to SPAR Group, Inc.
Americas	$	1,849		$	618		$	11,788		$	2,425
APAC		(1,602	)		(230	)		365			(507	)
EMEA		(391	)		(129	)		(2,043	)		(154	)
Total net (loss) income attributable to SPAR Group, Inc.	$	(144	)	$	259		$	10,110		$	1,764

Depreciation and amortization
Americas	$	445		$	472		$	1,348		$	1,402
APAC		9			36			64			60
EMEA		-			40			31			112
Total depreciation and amortization	$	454		$	548		$	1,443		$	1,574

Capital expenditures:
Americas	$	127		$	286		$	903		$	946
APAC		–			30			–			37
EMEA		–			49			5			100
Total capital expenditures	$	127		$	365		$	908		$	1,083

There were no intercompany sales for the three and nine months ended September 30, 2024 and 2023.

Total assets of the Company’s reportable segments as of the periods presented were (in thousands):

	*September 30,*		*December 31,*
	*2024*		*2023*
Assets:
Americas	$	62,634	$	71,372
APAC		4,762		13,361
EMEA		–		5,548
Total assets	$	67,396	$	90,281

Long-lived assets of the Company’s reportable segments as of the periods presented were (in thousands):

	*September 30,*		*December 31,*
	*2024*		*2023*
Long lived assets:
Americas	$	4,073	$	4,585
APAC		–		1,015
EMEA		–		745
Total long lived assets	$	4,073	$	6,345

Geographic Data (in thousands)

	*Three Months Ended September 30,*										*Nine Months Ended September 30,*
	*2024*					*2023*					*2024*					*2023*
			*% of*					*% of*					*% of*					*% of*
			*consolidated*					*consolidated*					*consolidated*					*consolidated*
			*net revenue*					*net revenue*					*net revenue*					*net revenue*
United States	$	28,768		76.1	%	$	28,722		42.7	%	$	90,583		55.3	%	$	81,004		41.0	%
Brazil		-		0.0	%		18,619		27.7	%		33,185		20.3	%		56,717		28.7	%
South Africa		-		0.0	%		7,863		11.7	%		8,277		5.1	%		25,759		13.0	%
Mexico		3,196		8.5	%		3,033		4.5	%		9,723		5.9	%		8,065		4.1	%
China		-		0.0	%		2,205		3.3	%		2,698		1.6	%		7,106		3.6	%
Japan		908		2.4	%		1,489		2.2	%		3,778		2.3	%		4,533		2.3	%
Canada		3,529		9.3	%		3,421		5.1	%		10,698		6.5	%		8,671		4.4	%
India		1,387		3.7	%		1,577		2.3	%		4,829		3.0	%		4,420		2.2	%
Australia		-		0.0	%		404		0.6	%		-		0.0	%		1,374		0.7	%
Total net revenue	$	37,788		100.0	%	$	67,333		100.0	%	$	163,771		100.0	%	$	197,649		100.0	%

- Definition

The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments.

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+ Details

Note 10 - Leases (Tables)

9 Months Ended

Sep. 30, 2024

Notes Tables

Lease, Cost [Table Text Block]

		*Three Months Ended*				*Nine Months Ended*
		*September 30,*				*September 30,*
Lease Costs	*Classification*	*2024*		*2023*		*2024*		*2023*
Operating lease cost	Selling, General and Administrative Expense	$	147	$	71	$	415	$	212
Short-term lease cost	Selling, General and Administrative Expense		22		19		277		130
Variable costs	Selling, General and Administrative Expense		-		13		-		44
Total lease cost		$	169	$	103	$	692	$	386

Lessee, Operating Lease, Cash Flows [Table Text Block]

	*Three Months Ended*				*Nine Months Ended*
	*September 30,*				*September 30,*
	*2024*		*2023*		*2024*		*2023*

Operating cash flows from operating leases	$	105	$	233	$	415	$	489

Right-of-use assets obtained in exchange for lease obligations
Operating lease	$	-	$	386	$	-	$	1,497

Operating Lease, Leases Asset and Liability [Table Text Block]

	September 30, 2024			December 31, 2023
Assets:
Operating lease right-of-use assets	$	838		$	2,323
Liabilities:
Current portion of operating lease liabilities		508			1,163
Non-current portion of operating lease liabilities		330			1,160
Total operating lease liabilities	$	838		$	2,323

Weighted-average remaining lease term - operating leases (in years)		3.56			2.64
Weighted-average discount rate - operating leases		7.6	%		8.8	%

Lessee, Operating Lease, Liability, to be Paid, Maturity [Table Text Block]

Period Ending December 31,	Amount
2024	$	134
2025		438
2026		144
2027		114
2028		73
Total Lease Payments		903
Less: imputed interest		(65	)
Total	$	838

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023
Cash flows from operating activities:
Net income	$ 11,024	$ 3,981
Adjustments to reconcile net income to net cash (used in) provided by operating activities
Depreciation and amortization	1,443	1,574
Amortization of operating lease right-of-use assets	415	433
Provision for expected credit losses	133	138
Deferred income tax expense	4,577	(15)
Gain on sale of businesses	(11,154)	0
Share-based compensation expense	107	217
Changes in operating assets and liabilities:
Accounts receivable, net	(5,843)	(1,963)
Prepaid expenses and other current assets	(2,383)	1,635
Accounts payable	3,832	409
Operating lease liabilities	(415)	(433)
Accrued expenses, other current liabilities, due to affiliates and customer incentives and deposits	(2,466)	(4,336)
Net cash (used in) provided by operating activities	(730)	1,640
Cash flows from investing activities
Purchases of property and equipment	(908)	(1,083)
Cash transferred in the sale of a business	(7,658)	0
Proceeds from the sale of joint ventures	18,094	0
Net cash provided by (used in) investing activities	9,528	(1,083)
Cash flows from financing activities
Borrowings under line of credit	103,184	80,151
Repayments under line of credit	(97,782)	(79,520)
Proceeds from term debt	16	0
Repurchases of common stock	(1,800)	0
Payments of notes to seller	(1,843)	0
Payments to acquire noncontrolling interests	(250)	(473)
Dividend on noncontrolling interest	(1,315)	(1,674)
Net cash provided by (used in) financing activities	210	(1,516)
Effect of foreign exchange rate changes on cash	(75)	(426)
Net change in cash, cash equivalents and restricted cash	8,933	(1,385)
Cash, cash equivalents at beginning of period	10,719	9,345
Cash, cash equivalents at end of period	19,652	7,960
Supplemental disclosure of cash flows information:
Cash paid for interest	1,640	1,302
Cash paid for income taxes	$ 277	$ 1,945

Note 3 - Debt (Tables)

9 Months Ended

Sep. 30, 2024

Notes Tables

Schedule of Debt [Table Text Block]

	*Interest Rate*			*Balance*		*Interest Rate*			*Balance*
	*as of*			*as of*		*as of*			*as of*
	*September 30, 2024*			*September 30, 2024*		*December 31, 2023*			*December 31, 2023*
USA / Canada North Mill Capital		9.90	%	$	17,788		10.40	%	$	12,475
USA - Resource Plus Seller Notes		4.30	%		750		1.85	%		1,120
China- Industrial Bank		N/A			-		3.56	%		283
China - Industrial and Commercial Bank of China		N/A			-		4.00	%		283
South Africa - Investec Bank Ltd.		N/A			-		11.75	%		3,369
Total				$	18,538				$	17,530

	*Interest Rate*			*Balance*		*Interest Rate*			*Balance*
	*as of*			*as of*		*as of*			*as of*
	*September 30, 2024*			*September 30, 2024*		*December 31, 2023*			*December 31, 2023*
USA - Resource Plus Seller Notes		4.30	%	$	1,707		N/A		$	-
South Africa - Investec Bank Ltd.		N/A			-		11.75	%		310
				$	1,707				$	310

Credit And Debt Facilities Unused Availability [Table Text Block]

	*September 30,*		*December 31,*
	*2024*		*2023*
Unused Availability:
United States / Canada	$	11,692	$	6,525
South Africa		-		2,064
Total Unused Availability	$	11,692	$	8,589

Note 8 - Related-party Transactions - Transactions Between the Company and Affiliates (Details) - USD ($)
$ in Thousands

Sep. 30, 2024

Dec. 31, 2023

Due to affiliates

^[1]

$ 623

$ 3,205

Loans Due to Affiliates [Member] | Local Investors in Mexico [Member]

Due to affiliates

^[1]

623

Loans Due to Affiliates [Member] | Local Investors in China [Member]

Due to affiliates

^[1]

Loans Due to Affiliates [Member] | Local Investors Related to Resource Plus [Member]

Due to affiliates

^[1]

$ 0

266

Loans Due from Affiliates [Member] | Local Investors in China [Member]

Due to affiliates

^[1]

$ 2,316

[1]	Represent loans due from the local investors into the Company's subsidiaries (representing their proportionate share of working capital loans). The loans have no payment terms, are due on demand, and are classified as current liabilities in the unaudited condensed consolidated balance sheets.

Note 12 - Subsequent Events

9 Months Ended

Sep. 30, 2024

Notes to Financial Statements

Subsequent Events [Text Block]

12.

Subsequent Events

Potential Going Private Transaction

As previously announced, on August 30, 2024, the Corporation entered into an Agreement and Plan of Merger (the "Merger Agreement"), with Highwire Capital, LLC, a Texas limited liability company ("Highwire"), and Highwire Merger Co. I, Inc., a Delaware corporation and a wholly owned subsidiary of Parent ("Merger Sub"), pursuant to which Highwire, in a cash merger following approval by the Corporation's stockholders and the closing of the transaction, will acquire all of the stock of the Corporation for $2.50 per fully diluted share in cash, representing an aggregate purchase price of $58,000,000 (subject to certain adjustments). All outstanding stock options, restricted stock units and phantom stock units will vest and their holders will receive comparable compensation net of exercise prices (if any).

The board of directors of the Corporation (the "Board") approximately two years ago established a special committee consisting solely of independent directors (the "Special Committee") to, among other things, evaluate the advisability and fairness of strategic alternatives to the Corporation and its stockholders (including unaffiliated stockholders of the Corporation). They eventually received, negotiated and approved the letter of intent from Highwire ("LOI") previously announced on June 5, 2024, which led to the negotiation of the Merger Agreement.

The Special Committee and Board unanimously (i) determined that the Merger Agreement and the transactions contemplated thereby ("Merger Transactions") are advisable, fair to and in the best interests of the Corporation and its stockholders, (ii) determined that it is advisable and in the best interests of the Corporation and its stockholders to enter into the Merger Transactions, (iii) approved the execution, delivery and performance by the Corporation of the Merger Transactions and (iv) recommend that the stockholders of the Corporation approve the Merger Transactions.

On October 2, 2024, the Corporation filed with the SEC and mailed to its stockholders its definitive Proxy Statement containing notification of the special meeting of SGRP's stockholders on October 25, 2024, to approve the Merger Agreement and the related transactions, which its stockholders approved at that meeting.. The parties to the Merger Agreement are working to finalize the closing of the Merger Transactions, which is expected in the fourth quarter of 2024.

South Africa Consent

On October 8, 2024, SGRP provided its consent to Friedshelf 401 Ltd, Lindicom Empowerment Holdings LTD and Lindicom, the acquirer of SGRP’s 51% ownership in the South African joint venture, to allow the acquirer to add additional subscribers to their business. The Sale of Shares Agreement required SGRP to provide this consent as long as the second installment is outstanding. In return for this consent, SGRP received terms that provide for receipt of the second installment six months earlier upon achievement of agreed to performance criteria.

Note 10 - Leases - Supplemental Cash Flow Information (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Operating cash flows from operating leases	$ 105	$ 233	$ 415	$ 489
Operating lease	$ 0	$ 386	$ 0	$ 1,497

Note 8 - Related Party Transactions

9 Months Ended

Sep. 30, 2024

Notes to Financial Statements

8.	Related Party Transactions

Domestic Related Party Transactions

Change of Control, Voting and Restricted Stock Agreement

The Change of Control, Voting and Restricted Stock Agreement (the "CIC Agreement") became effective on January 28, 2022, when signed by the Company and Mr. Robert G. Brown, ("Mr. Brown"), Mr. William H. Bartels ("Mr. Bartels"), SPAR Administrative Services, Inc. ("SAS"), and SPAR Business Service, Inc. ("SBS"). Mr. Brown, Mr. Bartels, SAS and SBS may be referred to collectively as the "Majority Stockholders".

Pursuant to the CIC Agreement, the Corporation issued to the Majority Stockholders 2,000,000 restricted shares of Series B Preferred Stock, which converted into 3,000,000 SGRP Shares pursuant to the 1:1.5 conversion ratio set forth in the CIC Agreement. The final shares under the CIC Agreement vested on November 10, 2023, and all of the corresponding SGRP Shares had been issued or were in the process of being issued by December 31, 2023.

Pursuant to the CIC Agreement, all actions, claims and demands between the Majority Stockholders and the Corporation were resolved; and the Majority Stockholders and their affiliates during the five-year term of the CIC Agreement, ending on June 25, 2027, have agreed to give up certain rights with respect to the management of the Corporation.

Bartels' Retirement and Director Compensation

Mr. William H. Bartels retired as an employee of the Company as of January 1, 2020 but continues to serve as a member of SPAR's Board. Mr. Bartels is also one of the founders and a significant stockholder of SGRP. Effective January 18, 2020, SPAR's Governance Committee proposed and unanimously approved retirement benefits for the five-year period commencing January 1, 2020, and ending December 31, 2024 (the "Five-Year Period"), for Mr. Bartels. The aggregate value of benefits payable to Mr. Bartels is approximately $0.2 million per year and a total of $1.1 million for the Five-Year Period.

As of September 30, 2024, there are approximately $58 thousand of benefits payable, which are included in accrued expenses and other current liabilities in the unaudited condensed consolidated balance sheets.

Other Related Party Transactions and Arrangements

On April 18, 2024, the Company entered into a Securities Purchase Agreement to buy from Mr. Richard Justus the remaining minority joint venture interests of Resource Plus and its sister companies, Mobex of North Florida, Inc., and Leasex, LLC. Based on the terms set in the original joint venture agreement, the Company will pay a total of $3 million in annual payments over a five-year period. $250,000 was paid within five business days of closing, and the remaining $2,750,000 will be paid pursuant to a Secured Promissory Note. The agreement resulted in the termination of all relevant shareholder and operating agreements, although specific confidentiality obligations remain effective for three years post-closing and specific mutual releases were provided. The purchase was closed and completed on May 1, 2024. As of September 30, 2024, $250,000 has been paid and the remaining $2,750,000 Promissory Note is outstanding.

On December 1, 2021, the Corporation entered into the Agreement for Marketing and Advertising Services (the "WB Agreement") with WB Marketing, Inc. (the "Agent", and together with the Company, the "Parties"). The Agent is an entity owned and controlled by Mrs. Jean Matacunas who is the wife of President and Chief Executive Officer, Michael R. Matacunas. During the first nine months of 2024, the company his recognized approximately $101,000 in expenses under this agreement.

SBS and Infotech are related parties and affiliates of SGRP, but are not under the control or part of the consolidated Company. See Change of Controls, Voting and Restricted Stock Agreement, above. In July 1999 the Company, SBS and Infotech entered into a perpetual software ownership agreement providing that each party independently owned an undivided share of and has the right to unilaterally license and exploit certain portions of the Company's proprietary scheduling, tracking, coordination, reporting and expense software are co-owned with SBS and Infotech, and each entered into a non-exclusive royalty-free license from the Company to use certain "SPAR" trademarks in the United States.

On May 13, 2024, SGRP privately repurchased 1,000,000 shares of SGRP's Common Stock from William H. Bartels, effective as of April 30, 2024, at a purchase price of $1.80 per share (the Nasdaq closing price on April 29, 2024).

International Joint Venture Transactions

Agreement to sell the Company’s ownership interest in its South African Joint Venture

Prior to March 31, 2024, SGRP Meridian Proprietary Limited ("Meridian") was a consolidated international subsidiary of the Company and was owned 51% by the Company and 49% by Friedshelf (Pty) Ltd., Lindicom Proprietary Limited, and Lindicom Empowerment Holdings Proprietary Limited ("Local Owners").

On February 7, 2024, the Company entered into an agreement to sell its 51% ownership interest in Meridian to the Local Owners for 180,700,000 South African Rand, 80% of which would be paid upon closing.

The closing conditions under that agreement were satisfied in all material respects by March 31, 2024. and on April 29, the Company received 144,560,000 South African Rand from the Local Buyers (or approximately $7.7 million). The remaining purchase price will be paid on December 31, 2024 or 2025, depending on certain financial triggers, and its payment is secured by an irrevocable unconditional guarantee from Investec Bank Limited. The Company has also licensed certain technology (including SPARView) and trademarks to Meridian in connection with the sale. The Company has recognized a gain of $7.2 million in the first quarter of 2024 as a result of this transaction.

Agreement to sell the Company’s ownership interest in its Chinese Joint Venture

On February 23, 2024, the Company entered into an agreement to sell its 51% ownership interest in SPAR (Shanghai) Marketing Management Co., Ltd. to Shanghai Jingbo Enterprise Consulting Co., Ltd. and Shanghai Wedone Marketing Management Co. Ltd. The total price to be paid to the Company is $200,000. The sale was completed in of April 2024.

Agreement to sell the Company’s Brazilian subsidiary that owns its interest in its Brazilian Joint Venture

On March 26, 2024, the Company signed a share purchase agreement with JK Consultoria Empresarial Ltda. ("JKC") for JKC to acquire the Company's Brazilian holding company (which in turn owns the Company's 51 percent interest in its Brazilian joint venture subsidiary) for BRL 58.9 million or approximately $11.8 million. Closing of the sale occurred in June 2024.

Agreement to sell SPAR's 100% ownership interest in SPAR Japan

On July 23, 2024, the Company entered into an agreement to sell its 100% ownership interest in SPAR Japan for $500,000. The sale closed on August 30, 2024.

Agreement to sell SPAR's 51% ownership interest in its Indian Joint Venture

On September 25, 2024, the Company closed on an agreement to sell its 51% ownership interest in its Indian Joint venture for $500,000, effective as of August 31, 2024.

Summary of Certain Related Party Transactions

Due to related parties consists of the following as of the periods presented (in thousands):

Due to affiliates consists of the following (in thousands):	*September 30,*		*December 31,*
	*2024*		*2023*
Loans from local investors:(1)
Mexico	$	623	$	623
China		-		2,316
Resource Plus		-		266
Total due to affiliates	$	623	$	3,205

⁽¹⁾	Represent loans due from the local investors into the Company's subsidiaries (representing their proportionate share of working capital loans). The loans have no payment terms, are due on demand, and are classified as current liabilities in the unaudited condensed consolidated balance sheets.

- Definition

The entire disclosure for related party transactions. Examples of related party transactions include transactions between (a) a parent company and its subsidiary; (b) subsidiaries of a common parent; (c) and entity and its principal owners; and (d) affiliates.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480990/946-20-50-2

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 5
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480990/946-20-50-5

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 6
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480990/946-20-50-6

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 235
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147477968/946-235-50-2

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 235
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (e)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147477968/946-235-50-2

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 850
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483326/850-10-50-1

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 220
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.6-07(2)(g)(3))
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-URI https://asc.fasb.org/1943274/2147479134/946-220-S99-1

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
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Reference 9: http://www.xbrl.org/2003/role/disclosureRef
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Reference 10: http://www.xbrl.org/2003/role/disclosureRef
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Reference 11: http://www.xbrl.org/2003/role/disclosureRef
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Reference 12: http://www.xbrl.org/2003/role/disclosureRef
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Reference 13: http://www.xbrl.org/2003/role/disclosureRef
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-Section 50
-Paragraph 1
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483326/850-10-50-1

+ Details

Note 5 - Common Stock (Details Textual) - USD ($) $ / shares in Units, $ in Thousands		9 Months Ended
	Apr. 30, 2024	Sep. 30, 2024	Apr. 29, 2024	Mar. 28, 2024	Dec. 31, 2023
Common Stock, Shares Authorized (in shares)		47,000,000			47,000,000
Common Stock, Par or Stated Value Per Share (in dollars per share)		$ 0.01			$ 0.01
Dividends, Common Stock, Cash		$ 0
The 2024 Stock Repurchase Program [Member]
Share Repurchase Program, Authorized, Number of Shares (in shares)				2,500,000
The 2024 Stock Repurchase Program [Member] \| William Bartels [Member]
Treasury Stock, Shares, Acquired (in shares)	1,000,000
Share Price (in dollars per share)			$ 1.8

Note 3 - Debt (Details Textual) $ in Millions	Oct. 10, 2023 USD ($)	Feb. 01, 2023 USD ($)	Sep. 30, 2024 USD ($)	Feb. 01, 2023 CAD ($)	Jul. 01, 2022 USD ($)
Debt Instrument, Variable Interest Rate, Type [Extensible Enumeration]		Prime Rate [Member]
Revolving Credit Facility [Member] \| North Mill, LLC [Member]
Debt Related Commitment Fees and Debt Issuance Costs		$ 28,000
Debt Instrument, Interest Rate, Stated Percentage			9.90%
Long-Term Debt			$ 17,800,000
Loans Payable, Current			16,300,000
Revolving Credit Facility [Member] \| North Mill, LLC [Member] \| SPAR Marketing Force [Member]
Line of Credit Facility, Maximum Borrowing Capacity		28,000,000		$ 2
Debt Instrument, Covenant, Unbilled Cap		$ 7,000,000			$ 6,500,000
Revolving Credit Facility [Member] \| North Mill, LLC [Member] \| SPAR Canada Company [Member]
Long-Term Debt			$ 1,500,000
NM Note [Member] \| North Mill, LLC [Member]
Debt Instrument, Basis Spread on Variable Rate		1.90%
NM Note [Member] \| North Mill, LLC [Member] \| Minimum [Member]
Debt Instrument, Basis Spread on Variable Rate		6.75%
NM Notes Commencing on 10 October 2022 [Member] \| North Mill, LLC [Member]
Debt Instrument, Fee Amount	$ 200,000	$ 100,000
Debt Instrument, Facility Fee for Any Advances Other Than Under Revolving Credit Faculty, Percentage	0.80%	0.80%
Debt Instrument, Fee for Each Incremental 1 Million Increase in Loan Balance in Excess of $21 Million	$ 15,000	$ 15,000

Note 3 - Debt

9 Months Ended

Sep. 30, 2024

Notes to Financial Statements

Debt Disclosure [Text Block]

Debt

North Mill Capital Credit Facility

The Company, through SPAR Marketing Force, Inc. ("SMF") and SPAR Canada Company ULC ("SCC", and collectively with SMF, the “NM Borrowers”), has a secured revolving credit facility in the United States (the "US Revolving Credit Facility") and Canada (the "Canada Revolving Credit Facility", and collectively with the US Revolving Credit Facility, the "NM Credit Facility") with North Mill Capital, LLC, d/b/a SLR Business Credit ("NM").

In order to obtain, document and govern the NM Credit Facility, SMF, SCC, SGRP and certain of SGRP's direct and indirect subsidiaries in the United States and Canada (including SMF and SCC as borrowers and SGRP as a guarantor, collectively, the "NM Loan Parties") entered into a Loan and Security Agreement with NM dated as of April 10, 2019, which, as amended from time to time (as amended, the "NM Loan Agreement"), governs the NM Credit Facility. Pursuant to the NM Loan Agreement, the NM Borrowers agreed to reimburse NM for legal and documentation fees incurred in connection with the NM Loan Agreement and such amendments.

On February 1, 2023, the NM Loan Parties and NM executed and delivered a Sixth Modification Agreement, effective immediately (the "Sixth Modification Agreement"), pursuant to which the NM Loan Parties and NM agreed to increase the amount of the US Revolving Credit Facility to $28.0 million and increase the Canada Revolving Credit Facility to CDN$2.0 million. In addition, the Sixth Modification Agreement increased the cap on unbilled accounts in the borrowing base for SMF to $7.0 million from $6.5 million.

On March 27, 2024, the NM Loan Parties and NM executed and delivered a Seventh Modification Agreement, effective immediately (the "Seventh Modification Agreement"), pursuant to which the NM Loan Parties and NM agreed to extend the NM Credit Facility from October 10, 2024 to October 10, 2025.

The Restated US Note and Restated Canadian Note (together, the "NM Notes") and the NM Loan Agreement together require the NM Borrowers to pay interest on the loans thereunder equal to: (i) the Prime Rate designated from time to time by Wells Fargo Bank; plus (ii) one and nine-tenths percentage points (1.90%) or an aggregate minimum of 6.75% per annum. In addition, the NM Borrowers are paying a facility fee to NM in an amount equal to: (i) for the year commencing on October 10, 2022, approximately $0.1 million plus 0.80% of the amount of any advances other than under the US Revolving Credit Facility plus an additional facility fee of $15,000 for every incremental $1.0 million of loan balance in excess of $21.0 million, and (ii) for the year commencing on October 10, 2023, approximately $0.2 million plus 0.80% of the amount of any advances other than under the US Revolving Credit Facility plus an additional facility fee of $15,000 for every incremental $1.0 million of loan balance in excess of $21.0 million. For the Sixth Modification Agreement, the NM Borrowers paid NM a fee of approximately $28,000.

As of September 30, 2024, the aggregate interest rate was 9.90% per annum and the aggregate outstanding loan balance was approximately $17.8 million, which is included within lines of credit and short-term loans in the unaudited condensed consolidated balance sheets. The aggregate outstanding loan balance is divided between the US Revolving Credit Facility and the Canada Revolving Credit Facility as follows: (i) the outstanding loan balance under the US Revolving Credit Facility was approximately $16.3 million; and (ii) the outstanding loan balance under the Canada Revolving Credit Facility was approximately $1.5 million.

The NM Credit Facility contains certain financial and other restrictive covenants and also limits certain expenditures by the NM Loan Parties, including maintaining a positive trailing EBITDA for each the NM Borrowers (i.e., SMF and SCC) and imposes limits on all of the NM Loan Parties (including SGRP) on non-ordinary course payments and transactions, incurring or guaranteeing indebtedness, capital expenditures and certain other investments. The NM Loan Parties were in compliance with such covenants as of September 30, 2024. The obligations of the NM Borrowers are secured by the receivables and other assets of the NM Borrowers and substantially all of the assets of the other NM Loan Parties.

Summary of the Company’s lines of credit and short-term loans (in thousands):

	*Interest Rate*			*Balance*		*Interest Rate*			*Balance*
	*as of*			*as of*		*as of*			*as of*
	*September 30, 2024*			*September 30, 2024*		*December 31, 2023*			*December 31, 2023*
USA / Canada North Mill Capital		9.90	%	$	17,788		10.40	%	$	12,475
USA - Resource Plus Seller Notes		4.30	%		750		1.85	%		1,120
China- Industrial Bank		N/A			-		3.56	%		283
China - Industrial and Commercial Bank of China		N/A			-		4.00	%		283
South Africa - Investec Bank Ltd.		N/A			-		11.75	%		3,369
Total				$	18,538				$	17,530

Summary of Unused Company Credit and Other Debt Facilities (in thousands):

	*September 30,*		*December 31,*
	*2024*		*2023*
Unused Availability:
United States / Canada	$	11,692	$	6,525
South Africa		-		2,064
Total Unused Availability	$	11,692	$	8,589

Summary of the Company’s Long- term debt (dollars in thousands):

	*Interest Rate*			*Balance*		*Interest Rate*			*Balance*
	*as of*			*as of*		*as of*			*as of*
	*September 30, 2024*			*September 30, 2024*		*December 31, 2023*			*December 31, 2023*
USA - Resource Plus Seller Notes		4.30	%	$	1,707		N/A		$	-
South Africa - Investec Bank Ltd.		N/A			-		11.75	%		310
				$	1,707				$	310

- Definition

The entire disclosure for information about short-term and long-term debt arrangements, which includes amounts of borrowings under each line of credit, note payable, commercial paper issue, bonds indenture, debenture issue, own-share lending arrangements and any other contractual agreement to repay funds, and about the underlying arrangements, rationale for a classification as long-term, including repayment terms, interest rates, collateral provided, restrictions on use of assets and activities, whether or not in compliance with debt covenants, and other matters important to users of the financial statements, such as the effects of refinancing and noncompliance with debt covenants.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 6
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481544/470-10-50-6

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
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-URI https://asc.fasb.org/1943274/2147481544/470-10-50-6

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 405
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-Section 50
-Paragraph 1
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-Publisher FASB
-URI https://asc.fasb.org/1943274/2147477092/405-40-50-1

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
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-URI https://asc.fasb.org/1943274/2147477092/405-40-50-1

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
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Reference 6: http://www.xbrl.org/2003/role/disclosureRef
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Reference 7: http://www.xbrl.org/2003/role/disclosureRef
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Reference 8: http://www.xbrl.org/2003/role/disclosureRef
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Reference 9: http://www.xbrl.org/2003/role/disclosureRef
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Reference 11: http://www.xbrl.org/2003/role/disclosureRef
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+ Details

Note 11 - Earnings Per Share - Basic and Diluted Earnings Per Share (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Net (loss) income attributable to SPAR Group, Inc.	$ (144)	$ 259	$ 10,110	$ 1,764
Weighted-average common shares outstanding – basic (in shares)	23,435	23,237	23,591	23,201
Stock options and unvested restricted shares (in shares)	0	139	177	149
Weighted-average common shares outstanding – diluted (in shares)	23,435	23,376	23,768	23,350
Basic (loss) income per common share attributable to SPAR Group, Inc. (in dollars per share)	$ (0.01)	$ 0.01	$ 0.43	$ 0.08
Diluted (loss) income per common share attributable to SPAR Group, Inc. (in dollars per share)	$ (0.01)	$ 0.01	$ 0.43	$ 0.08

- Definition

The amount of net income (loss) for the period per each share of common stock or unit outstanding during the reporting period.

+ References

+ Details

- Definition

The amount of net income (loss) for the period available to each share of common stock or common unit outstanding during the reporting period and to each share or unit that would have been outstanding assuming the issuance of common shares or units for all dilutive potential common shares or units outstanding during the reporting period.

+ References

+ Details

- Definition

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
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+ Details

Note 9 - Segment Information (Details Textual) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Revenue from Contract with Customer, Including Assessed Tax	$ 37,788	$ 67,333	$ 163,771	$ 197,649
Intersegment Eliminations [Member]
Revenue from Contract with Customer, Including Assessed Tax	$ 0	$ 0	$ 0	$ 0

- Definition

Amount, including tax collected from customer, of revenue from satisfaction of performance obligation by transferring promised good or service to customer. Tax collected from customer is tax assessed by governmental authority that is both imposed on and concurrent with specific revenue-producing transaction, including, but not limited to, sales, use, value-added and excise.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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-Publisher FASB
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+ Details

Note 10 - Leases - Leases Assets and Liabilities (Details) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Operating lease right-of-use asset	$ 838	$ 2,323
Current portion of operating lease liability	508	1,163
Non-current portion of operating lease liabilities	330	1,160
Total operating lease liabilities	$ 838	$ 2,323
Weighted-average remaining lease term - operating leases (in years) (Year)	3 years 6 months 21 days	2 years 7 months 20 days
Weighted-average discount rate - operating leases	7.60%	8.80%

Note 3 - Debt - Summary of Credit and Other Debt Facilities (Details) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Balance	$ 18,538	$ 17,530
Balance	18,538	17,530
Balance outstanding	$ 1,707	$ 310
USA/Canada [Member]
Interest Rate	9.90%	10.40%
Balance	$ 17,788	$ 12,475
Balance	$ 17,788	$ 12,475
Interest Rate	9.90%	10.40%
USA - Resource Plus Sellers [Member]
Interest Rate	4.30%
Interest Rate	4.30%
Balance outstanding	$ 1,707	$ 0
USA - Resource Plus Sellers, Short-term [Member]
Interest Rate	4.30%	1.85%
Balance	$ 750	$ 1,120
Balance	$ 750	$ 1,120
Interest Rate	4.30%	1.85%
Investec Bank Ltd. [Member]
Interest Rate		11.75%
Balance	$ 0	$ 3,369
Balance	0	$ 3,369
Interest Rate		11.75%
Balance outstanding	0	$ 310
Industrial Bank [Member]
Interest Rate		3.56%
Balance	0	$ 283
Balance	0	$ 283
Interest Rate		3.56%
Industrial Bank and Commercial Bank of China [Member]
Interest Rate		4.00%
Balance	0	$ 283
Balance	$ 0	$ 283
Interest Rate		4.00%

Note 6 - Preferred Stock

9 Months Ended

Sep. 30, 2024

Notes to Financial Statements

Preferred Stock [Text Block]

6.	Preferred Stock

The Corporation’s certificate of incorporation authorizes it to issue 3,000,000 shares of preferred stock with a par value of $0.01 per share, which may have such preferences and priorities over the Corporation’s common stock and other rights, powers and privileges as the Board of may establish in its discretion.

In January 2022, the Corporation filed a Certificate of Elimination for its "Certificate of Designation of Series "A” Preferred Stock of SPAR Group, Inc.” (the "Certificate of Elimination”). Pursuant to the Certificate of Elimination, the previous Series A convertible preferred stock designation was cancelled and withdrawn. As a result, all 3,000,000 shares of the previously authorized Series A convertible preferred stock were returned to the Corporation's authorized "blank check” preferred stock. There were no shares of Series A convertible preferred stock outstanding at the time of the cancellation.

Subsequent to filing the Certificate of Elimination, in January 2022, the Corporation filed a "Certificate of Designation of Series "B” Preferred Stock of SPAR Group, Inc.” (the "Preferred Designation”) with the Secretary of State of Delaware, which designation had been approved by the Board in January 2022. The Preferred Designation created a series of 2,000,000 shares of convertible preferred stock designated as "Series B” convertible preferred stock, par value of $0.01 per share.

The Series B convertible preferred stock do not carry any voting or dividend rights and upon vesting converted into the Corporation's common stock at a ratio of 1-to-1.5. See Note 8. The holders of the Series B convertible preferred stock had a liquidation preference over the Corporation's common stock and voted together for matters pertaining only to the Series B convertible preferred stock where only the holders of the Series B convertible preferred stock are entitled to vote. The holders of outstanding Series B Preferred Stock do not have the right to vote for directors or other matters submitted to the holders of the Corporation's common stock.

In January 2022, 2,000,000 shares of Series B convertible preferred stock were issued to the majority stockholders and related parties pursuant to the Change of Control, Voting and Restricted Stock Agreement. See Note 8.

During the year ended December 31, 2022, 1,145,247 shares of Series B convertible preferred stock converted to 1,717,870 shares of the Corporation's common stock. As of the year ended December 31, 2022, 854,753 shares of Series B convertible preferred stock were outstanding, which upon vesting would automatically convert into 1,282,129 shares of the Corporation's common stock.

During the year ended December 31, 2023, all of the remaining 854,753 shares of Series B convertible preferred stock vested and automatically became convertible into 1,282,129 shares of the Corporation's common stock of which 307,129 shares of the Corporation's Common Stock were issued prior to December 31, 2023. The remaining 975,000 shares of SGRP Common Stock were in the process of being issued and the remaining shares of Series B Preferred Stock were in the process of being returned and cancelled at December 31, 2023. These issuances and cancellations were completed during the quarter ending March 31, 2024.

Note 6 - Preferred Stock (Details Textual)		12 Months Ended
Note 6 - Preferred Stock (Details Textual)	Jan. 28, 2022 shares	Dec. 31, 2023 $ / shares shares	Dec. 31, 2022 shares	Sep. 30, 2024 $ / shares shares	Jan. 25, 2022 $ / shares shares
Preferred Stock, Shares Authorized (in shares)				3,000,000
Preferred Stock, Par or Stated Value Per Share (in dollars per share) \| $ / shares				$ 0.01
Conversion of Series B Preferred Stock into Common Stock [Member]
Conversion of Stock, Shares Converted (in shares)		854,753	1,145,247
Conversion of Stock, Shares Issued (in shares)		1,282,129	1,717,870
Stock Issued During Period, Shares, Conversion of Convertible Securities (in shares)		307,129
Series A Preferred Stock [Member] \| Maximum [Member]
Preferred Stock, Shares Authorized (in shares)					3,000,000
Series B Preferred Stock [Member]
Preferred Stock, Shares Authorized (in shares)		3,000,000		3,000,000	2,000,000
Preferred Stock, Par or Stated Value Per Share (in dollars per share) \| $ / shares		$ 0.01		$ 0.01	$ 0.01
Preferred Stock, Convertible, Conversion Ratio					1.5
Stock Issued During Period, Shares, New Issues (in shares)	2,000,000
Preferred Stock, Shares Outstanding, Ending Balance (in shares)		650,000	854,753	0
Preferred Stock, Convertible, Shares Issuable (in shares)		975,000	1,282,129

Note 8 - Related Party Transactions (Tables)

9 Months Ended

Sep. 30, 2024

Notes Tables

Due to affiliates consists of the following (in thousands):	*September 30,*		*December 31,*
	*2024*		*2023*
Loans from local investors:(1)
Mexico	$	623	$	623
China		-		2,316
Resource Plus		-		266
Total due to affiliates	$	623	$	3,205

Condensed Consolidated Balance Sheets (Unaudited) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Assets
Cash and cash equivalents	$ 19,652	$ 10,719
Accounts receivable, net	37,777	59,776
Prepaid expenses and other current assets	3,078	5,614
Total current assets	60,507	76,109
Property and equipment, net	2,142	2,871
Operating lease right-of-use assets	838	2,323
Goodwill	1,238	1,382
Intangible assets, net	693	1,180
Deferred income taxes, net	0	4,687
Other assets	1,978	1,729
Total assets	67,396	90,281
Accrued expenses and other current liabilities	3,713	15,274
Customer incentives and deposits	1,678	1,905
Lines of credit and short-term loans	18,538	17,530
Current portion of operating lease liabilities	508	1,163
Total current liabilities	34,280	48,565
Operating lease liabilities, net of current portion	330	1,160
Long-term debt	1,707	310
Deferred income taxes, net	1,538	0
Total liabilities	37,855	50,035
Commitments and contingencies – See Note 4
Stockholders' equity:
Common stock, $0.01 par value per share: 47,000,000 shares authorized as of September 30, 2024 and December 31, 2023; 23,448,675 and 23,446,444 shares issued and outstanding as of September 30, 2024 and December 31, 2023, respectively	234	232
Treasury stock, at cost, 1,205,485 shares as of September 30, 2024 and 205,485 as of December 31, 2023	(2,075)	(285)
Additional paid-in capital	13,151	21,004
Accumulated other comprehensive loss	(2,022)	(3,341)
Retained earnings	20,007	10,609
Total stockholders' equity attributable to SPAR Group, Inc.	29,295	28,226
Non-controlling interest	246	12,020
Total stockholders’ equity	29,541	40,246
Total liabilities and stockholders’ equity	67,396	90,281
Series B Preferred Stock [Member]
Stockholders' equity:
Convertible preferred stock	0	7
Nonrelated Parties [Member]
Assets
Accounts payable	9,220	9,488
Related Parties [Member]
Assets
Accounts payable	$ 623	$ 3,205

Condensed Consolidated Balance Sheets (Unaudited) (Parentheticals) - $ / shares	Sep. 30, 2024	Dec. 31, 2023
Preferred Stock, Par or Stated Value Per Share (in dollars per share)	$ 0.01
Preferred Stock, Shares Authorized (in shares)	3,000,000
Common Stock, Par or Stated Value Per Share (in dollars per share)	$ 0.01	$ 0.01
Common Stock, Shares Authorized (in shares)	47,000,000	47,000,000
Common Stock, Shares, Issued (in shares)	23,448,675	23,446,444
Common Stock, Shares, Outstanding (in shares)	23,448,675	23,446,444
Treasury Stock, Common and Preferred, Shares (in shares)	1,205,485	205,485
Series B Preferred Stock [Member]
Preferred Stock, Par or Stated Value Per Share (in dollars per share)	$ 0.01	$ 0.01
Preferred Stock, Shares Authorized (in shares)	3,000,000	3,000,000
Preferred Stock, Shares Issued (in shares)	0	650,000
Preferred Stock, Shares Outstanding (in shares)	0	650,000

Note 7 - Share-based Compensation (Details Textual) - USD ($) $ in Thousands			3 Months Ended		9 Months Ended
	Apr. 03, 2023	Mar. 24, 2022	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
The 2020 Plan [Member] \| Share-Based Payment Arrangement, Option [Member]
Share-Based Payment Arrangement, Expense			$ (20)	$ 15	$ 14	$ 45
The 2018 Plan [Member] \| Restricted Stock Units (RSUs) [Member]
Share-Based Payment Arrangement, Expense			$ (129)	$ 68	$ 93	$ 172
The 2022 Grant Date Plan [Member] \| Phantom Share Units (PSUs) [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award, Equity Instruments Other than Options, Grants in Period (in shares)		111,111
Share-Based Compensation Arrangement by Share-Based Payment Award, Award Vesting Period (Year)		3 years
The 2023 Grant Date Plan [Member] \| Phantom Share Units (PSUs) [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award, Equity Instruments Other than Options, Grants in Period (in shares)	181,818
Share-Based Compensation Arrangement by Share-Based Payment Award, Award Vesting Period (Year)	3 years
The 2023 Grant Date Plan [Member] \| Phantom Share Units (PSUs) [Member] \| CEO and President [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award, Equity Instruments Other than Options, Grants in Period (in shares)	378,788
The 2023 Grant Date Plan [Member] \| Phantom Share Units (PSUs) [Member] \| CFO, Secretary, and Treasurer [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award, Equity Instruments Other than Options, Grants in Period (in shares)	75,758

Note 9 - Segment Information - Assets (Details) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Assets	$ 67,396	$ 90,281
Americas [Member]
Assets	62,634	71,372
Asia Pacific [Member]
Assets	4,762	13,361
EMEA [Member]
Assets	$ 0	$ 5,548

- Definition

Amount of asset recognized for present right to economic benefit.

+ References

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+ Details

Document And Entity Information - shares	9 Months Ended
Document And Entity Information - shares	Sep. 30, 2024	Nov. 12, 2024
Document Information [Line Items]
Entity Central Index Key	0001004989
Entity Registrant Name	SPAR GROUP, Inc.
Amendment Flag	false
Current Fiscal Year End Date	--12-31
Document Fiscal Period Focus	Q3
Document Fiscal Year Focus	2024
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Sep. 30, 2024
Document Transition Report	false
Entity File Number	0-27408
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	33-0684451
Entity Address, Address Line One	1910 Opdyke Court
Entity Address, City or Town	Auburn Hills
Entity Address, State or Province	MI
Entity Address, Postal Zip Code	48326
City Area Code	248
Local Phone Number	364-7727
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Non-accelerated Filer
Entity Small Business	true
Entity Emerging Growth Company	false
Entity Shell Company	false
Title of 12(b) Security	Common stock, par value $0.01 per share
Trading Symbol	SGRP
Security Exchange Name	NASDAQ
Entity Common Stock, Shares Outstanding		23,449,701

Significant Accounting Policies (Policies)	9 Months Ended
Significant Accounting Policies (Policies)	Sep. 30, 2024
Accounting Policies [Abstract]
Consolidation, Policy [Policy Text Block]	*Principles of Consolidation* The Company consolidates its 100%-owned subsidiaries and all of the 51%-owned joint ventures in which the Company has a controlling financial interest. All significant intercompany transactions have been eliminated in the unaudited condensed consolidated financial statements.
Use of Estimates, Policy [Policy Text Block]	*Use of Estimates* The preparation of the unaudited condensed consolidated financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, the amounts disclosed for contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of revenues and expenses during the reporting year. Significant balances subject to such estimates and assumptions include carrying amounts of property and equipment and intangible assets, valuation allowances for receivables, carrying amounts for deferred tax assets and liabilities, and liabilities incurred from operations and customer incentives. Actual results could differ from those estimates.
Segment Reporting, Policy [Policy Text Block]	*Segment Reporting* Reportable segments are components of the Company for which separate financial information is available that is evaluated on a regular basis by the Chief Operating Decision Maker ("CODM”) in deciding how to allocate resources and in assessing performance. The Company's CODM is the Chief Executive Officer. The Company provides similar merchandising, marketing and business services and has three reportable regional segments: (i) Americas, which is comprised of United States, Canada, Brazil and Mexico; (ii) Asia-Pacific ("APAC”), which is comprised of Japan, China, and India; and (iii) Europe, Middle East and Africa ("EMEA”), which is comprised of South Africa. Certain corporate expenses have been allocated to segments based on each segment’s revenue as a percentage of total company revenue.
New Accounting Pronouncements, Policy [Policy Text Block]	*Recently Adopted Accounting Pronouncements* In November 2023, the FASB issued ASU No. 2023-07, Segment Reporting (Topic 280):Improvements to Reportable Segment Disclosures, which will require Companies to report additional segment information, including certain significant segment expenses, and permit the disclosure of additional measures of a segment’s profit or loss. The guidance will be effective for the Company’s fiscal year beginning January 1, 2024 and for interim periods thereafter. The Company adopted ASU No. 2023-07 on January 1, 2024 and the impact was not material. *Recently Issued Accounting Pronouncements* *Not* *Yet Adopted* In August 2023, the FASB issued ASU No. 2023-05, Business Combinations – Joint Venture Formations (Subtopic 805):Recognition and Initial Measurement, which will require joint ventures to recognize and initially measure its assets and liabilities at fair value upon formation. The guidance will be effective for the Company prospectively for all joint venture formations on or after January 1, 2025. Early adoption and retrospective application is permitted. The Company does not believe adoption will have a material effect on its consolidated financial statements and related disclosures. In December 2023, the FASB issued ASU No. 2023-09, Income Taxes (Topic 740):Improvements to Income Tax Disclosures, which will require Companies to report specific categories of rate-reconciliation, certain details of income taxes paid and of certain information by tax jurisdictions. The guidance will be effective for the Company’s fiscal year beginning January 1, 2025. The Company is currently evaluating the impact adoption will have on its consolidated financial statements and related disclosures.

- Definition

Disclosure of accounting policy for segment reporting.

+ References

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-Section 50
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+ Details

Note 10 - Leases

9 Months Ended

Sep. 30, 2024

Notes to Financial Statements

Lessee, Operating Leases [Text Block]

10.

Leases

The Company is a lessee under certain operating leases for office space and equipment.

The components of lease expenses consisted of the following for the periods presented (in thousands):

		*Three Months Ended*				*Nine Months Ended*
		*September 30,*				*September 30,*
Lease Costs	*Classification*	*2024*		*2023*		*2024*		*2023*
Operating lease cost	Selling, General and Administrative Expense	$	147	$	71	$	415	$	212
Short-term lease cost	Selling, General and Administrative Expense		22		19		277		130
Variable costs	Selling, General and Administrative Expense		-		13		-		44
Total lease cost		$	169	$	103	$	692	$	386

⁽¹⁾ Variable lease expense consists primarily of property taxes, property insurance, and common area or other maintenance costs for the Company’s leases of office space.

The following includes supplemental information for the periods presented (in thousands):

	*Three Months Ended*				*Nine Months Ended*
	*September 30,*				*September 30,*
	*2024*		*2023*		*2024*		*2023*

Operating cash flows from operating leases	$	105	$	233	$	415	$	489

Right-of-use assets obtained in exchange for lease obligations
Operating lease	$	-	$	386	$	-	$	1,497

Balance sheet information related to leases consisted of the following as of the periods presented (in thousands):

	September 30, 2024			December 31, 2023
Assets:
Operating lease right-of-use assets	$	838		$	2,323
Liabilities:
Current portion of operating lease liabilities		508			1,163
Non-current portion of operating lease liabilities		330			1,160
Total operating lease liabilities	$	838		$	2,323

Weighted-average remaining lease term - operating leases (in years)		3.56			2.64
Weighted-average discount rate - operating leases		7.6	%		8.8	%

The following table summarizes the maturities of lease liabilities as of September 30, 2024 (in thousands):

Period Ending December 31,	Amount
2024	$	134
2025		438
2026		144
2027		114
2028		73
Total Lease Payments		903
Less: imputed interest		(65	)
Total	$	838

Note 9 - Segment Information (Tables)

9 Months Ended

Sep. 30, 2024

Notes Tables

Schedule of Segment Reporting Information, by Segment [Table Text Block]

	*Three Months Ended*						*Nine Months Ended*
	*September 30,*						*September 30,*
	*2024*			*2023*			*2024*			*2023*
Net revenues:
Americas	$	35,494		$	53,796		$	144,189		$	154,457
APAC		2,294			5,674			11,305			17,432
EMEA		-			7,863			8,277			25,760
Total net revenues	$	37,788		$	67,333		$	163,771		$	197,649

Operating (loss) income:
Americas	$	(1,089	)	$	1,328		$	14,569		$	5,894
APAC		(403	)		(218	)		(822	)		(510	)
EMEA		-			431			227			1,304
Total operating (loss) income	$	(1,492	)	$	1,541		$	13,974		$	6,688

Interest expense
Americas	$	581		$	264		$	1,577		$	895
APAC		1			31			24			47
EMEA		-			85			77			306
Total interest expense	$	582		$	380		$	1,678		$	1,248

Other expense (income), net:
Americas	$	(807	)	$	5		$	(1,101	)	$	22
APAC		556			(59	)	$	572			(69	)
EMEA		723			(110	)		713			(300	)
Total other expense (income), net	$	472		$	(164	)	$	184		$	(347	)

(Loss) Income before income tax expense:
Americas	$	(82	)	$	1,059		$	13,666		$	4,977
APAC		(1,752	)		(190	)		209			(488	)
EMEA		(712	)		456			(1,763	)		1,298
Total (loss) income before income tax expense	$	(2,546	)	$	1,325		$	12,112		$	5,787

Income tax (benefit) expense:
Americas	$	(1,827	)	$	(163	)	$	1,220		$	1,068
APAC		(166	)		45			(126	)		8
EMEA		(321	)		345			(6	)		730
Total income tax (benefit) expense	$	(2,314	)	$	227		$	1,088		$	1,806

	*Three Months Ended*						*Nine Months Ended*
	*September 30,*						*September 30,*
	*2024*			*2023*			*2024*			*2023*
Net (loss) income:
Americas	$	1,745		$	1,222		$	12,446		$	3,909
APAC		(1,586	)		(235	)		335			(496	)
EMEA		(391	)		111			(1,757	)		568
Total net (loss) income	$	(232	)	$	1,098		$	11,024		$	3,981

Net loss (income) attributable to non-controlling interest
Americas	$	104		$	(604	)	$	(658	)	$	(1,484	)
APAC		(16	)		5			30			(11	)
EMEA		-			(240	)		(286	)		(722	)
Total net loss (income) attributable to non-controlling interest	$	88		$	(839	)	$	(914	)	$	(2,217	)

Net (loss) income attributable to SPAR Group, Inc.
Americas	$	1,849		$	618		$	11,788		$	2,425
APAC		(1,602	)		(230	)		365			(507	)
EMEA		(391	)		(129	)		(2,043	)		(154	)
Total net (loss) income attributable to SPAR Group, Inc.	$	(144	)	$	259		$	10,110		$	1,764

Depreciation and amortization
Americas	$	445		$	472		$	1,348		$	1,402
APAC		9			36			64			60
EMEA		-			40			31			112
Total depreciation and amortization	$	454		$	548		$	1,443		$	1,574

Capital expenditures:
Americas	$	127		$	286		$	903		$	946
APAC		–			30			–			37
EMEA		–			49			5			100
Total capital expenditures	$	127		$	365		$	908		$	1,083

Reconciliation of Assets from Segment to Consolidated [Table Text Block]

	*September 30,*		*December 31,*
	*2024*		*2023*
Assets:
Americas	$	62,634	$	71,372
APAC		4,762		13,361
EMEA		–		5,548
Total assets	$	67,396	$	90,281

Schedule of Revenue from External Customers and Long-Lived Assets, by Geographical Areas [Table Text Block]

	*September 30,*		*December 31,*
	*2024*		*2023*
Long lived assets:
Americas	$	4,073	$	4,585
APAC		–		1,015
EMEA		–		745
Total long lived assets	$	4,073	$	6,345

Schedule of Revenue from External Customers Attributed to Foreign Countries by Geographic Area [Table Text Block]

	*Three Months Ended September 30,*										*Nine Months Ended September 30,*
	*2024*					*2023*					*2024*					*2023*
			*% of*					*% of*					*% of*					*% of*
			*consolidated*					*consolidated*					*consolidated*					*consolidated*
			*net revenue*					*net revenue*					*net revenue*					*net revenue*
United States	$	28,768		76.1	%	$	28,722		42.7	%	$	90,583		55.3	%	$	81,004		41.0	%
Brazil		-		0.0	%		18,619		27.7	%		33,185		20.3	%		56,717		28.7	%
South Africa		-		0.0	%		7,863		11.7	%		8,277		5.1	%		25,759		13.0	%
Mexico		3,196		8.5	%		3,033		4.5	%		9,723		5.9	%		8,065		4.1	%
China		-		0.0	%		2,205		3.3	%		2,698		1.6	%		7,106		3.6	%
Japan		908		2.4	%		1,489		2.2	%		3,778		2.3	%		4,533		2.3	%
Canada		3,529		9.3	%		3,421		5.1	%		10,698		6.5	%		8,671		4.4	%
India		1,387		3.7	%		1,577		2.3	%		4,829		3.0	%		4,420		2.2	%
Australia		-		0.0	%		404		0.6	%		-		0.0	%		1,374		0.7	%
Total net revenue	$	37,788		100.0	%	$	67,333		100.0	%	$	163,771		100.0	%	$	197,649		100.0	%

Note 1 - Nature of the Business

9 Months Ended

Sep. 30, 2024

Notes to Financial Statements

Organization, Consolidation and Presentation of Financial Statements Disclosure [Text Block]

1.	Nature of the Business

SPAR Group, Inc. ("SGRP" or the "Corporation"), and its subsidiaries (and SGRP together with its subsidiaries may be referred to as "SPAR Group", the "Company", "SPAR", "We", or "Our") is a global merchandising and brand marketing services company, providing a broad range of services to retailers, consumer goods manufacturers and distributors around the world. 

Note 12 - Subsequent Events (Details Textual) - USD ($)	Oct. 08, 2024	Jun. 05, 2024
South African Joint Venture [Member] \| SPAR Group [Member] \| Subsequent Event [Member]
Percent Of Ownership Interest In Subsidiary Sold By Company	51.00%
Highwire Capital Acquiring SGRP [Member]
Business Acquisition, Share Price (in dollars per share)		$ 2.5
Business Combination, Price of Acquisition, Expected		$ 58,000,000

Note 9 - Segment Information - Segment Reporting Information (Details) - USD ($) $ in Thousands	3 Months Ended						9 Months Ended
	Sep. 30, 2024	Jun. 30, 2024	Mar. 31, 2024	Sep. 30, 2023	Jun. 30, 2023	Mar. 31, 2023	Sep. 30, 2024	Sep. 30, 2023
Revenue:	$ 37,788			$ 67,333			$ 163,771	$ 197,649
Operating income (loss):	(1,492)			1,541			13,974	6,688
Interest expense (income):	582			380			1,678	1,248
Other expense (income), net:	472			(164)			184	(347)
Income before income tax expense:	(2,546)			1,325			12,112	5,787
Income tax expense:	(2,314)			227			1,088	1,806
Net income (loss):	(232)	$ 4,075	$ 7,181	1,098	$ 1,106	$ 1,777	11,024	3,981
Net income attributable to non-controlling interest:	88			(839)			(914)	(2,217)
Net (loss) income attributable to SPAR Group, Inc.:	(144)			259			10,110	1,764
Depreciation and amortization:	454			548			1,443	1,574
Capital expenditures	127			365			908	1,083
Americas [Member]
Revenue:	35,494			53,796			144,189	154,457
Operating income (loss):	(1,089)			1,328			14,569	5,894
Interest expense (income):	581			264			1,577	895
Other expense (income), net:	(807)			5			(1,101)	22
Income before income tax expense:	(82)			1,059			13,666	4,977
Income tax expense:	(1,827)			(163)			1,220	1,068
Net income (loss):	1,745			1,222			12,446	3,909
Net income attributable to non-controlling interest:	104			(604)			(658)	(1,484)
Net (loss) income attributable to SPAR Group, Inc.:	1,849			618			11,788	2,425
Depreciation and amortization:	445			472			1,348	1,402
Capital expenditures	127			286			903	946
Asia Pacific [Member]
Revenue:	2,294			5,674			11,305	17,432
Operating income (loss):	(403)			(218)			(822)	(510)
Interest expense (income):	1			31			24	47
Other expense (income), net:	556			(59)			572	(69)
Income before income tax expense:	(1,752)			(190)			209	(488)
Income tax expense:	(166)			45			(126)	8
Net income (loss):	(1,586)			(235)			335	(496)
Net income attributable to non-controlling interest:	(16)			5			30	(11)
Net (loss) income attributable to SPAR Group, Inc.:	(1,602)			(230)			365	(507)
Depreciation and amortization:	9			36			64	60
Capital expenditures	0			30			0	37
EMEA [Member]
Revenue:	0			7,863			8,277	25,760
Operating income (loss):	0			431			227	1,304
Interest expense (income):	0			85			77	306
Other expense (income), net:	723			(110)			713	(300)
Income before income tax expense:	(712)			456			(1,763)	1,298
Income tax expense:	(321)			345			(6)	730
Net income (loss):	(391)			111			(1,757)	568
Net income attributable to non-controlling interest:	0			(240)			(286)	(722)
Net (loss) income attributable to SPAR Group, Inc.:	(391)			(129)			(2,043)	(154)
Depreciation and amortization:	0			40			31	112
Capital expenditures	$ 0			$ 49			$ 5	$ 100

Note 8 - Related Party Transactions (Details Textual) $ / shares in Units, R$ in Millions								1 Months Ended	5 Months Ended	9 Months Ended
	Sep. 25, 2024 USD ($)	Apr. 30, 2024 shares	Apr. 29, 2024 USD ($) $ / shares	Apr. 29, 2024 ZAR (R)	Apr. 18, 2024 USD ($)	Feb. 23, 2024 USD ($)	Feb. 07, 2024 ZAR (R)	Aug. 30, 2024 USD ($)	Sep. 30, 2024 USD ($) shares	Sep. 30, 2024 USD ($) shares	Mar. 30, 2024	Mar. 26, 2024 USD ($)	Mar. 26, 2024 BRL (R$)
SGRP Meridian [Member]
Disposal Group, Including Discontinued Operation, Consideration \| R							R 180,700,000
Proceeds from Sales of Business, Affiliate and Productive Assets			$ 7,700,000	R 144,560,000
Brazil Joint Venture [Member]
Disposal Group, Including Discontinued Operation, Consideration												$ 11,800,000	R$ 58.9
SPAR Japan [Member]
Disposal Group, Including Discontinued Operation, Consideration								$ 500,000
Indian Joint Venture [Member]
Disposal Group, Including Discontinued Operation, Consideration	$ 500,000
SPAR BSMT [Member]
Subsidiary, Ownership Percentage, Parent											51.00%
Meridian [Member] \| FRIEDSHELF 401 Proprietary Limited [Member]
Subsidiary, Ownership Percentage, Noncontrolling Owner											49.00%
SPAR Group [Member] \| SGRP Meridian [Member]
Percent Of Ownership Interest In Subsidiary Sold By Company							51.00%
SPAR Group [Member] \| SPAR China [Member]
Percent Of Ownership Interest In Subsidiary Sold By Company						51.00%
Proceeds From Sale of Ownership Interest						$ 200,000
SPAR Group [Member] \| SPAR Japan [Member]
Percent Of Ownership Interest In Subsidiary Sold By Company								100.00%
SPAR Group [Member] \| Indian Joint Venture [Member]
Percent Of Ownership Interest In Subsidiary Sold By Company	51.00%
SPAR Marketing Force [Member]
Subsidiary, Ownership Percentage, Parent												51.00%	51.00%
Resource Plus, Inc [Member]
Payments to Acquire Interest in Joint Venture					$ 3,000,000
Resource Plus Acquisition Note [Member]
Payments to Acquire Interest in Joint Venture					250,000				$ 250,000
Debt Instrument, Face Amount					$ 2,750,000
Long-Term Debt, Gross									$ 2,750,000	$ 2,750,000
CIC Agreement [Member]
Preferred Stock, Shares Issued (in shares) \| shares									2,000,000	2,000,000
Preferred Stock, Shares Issuable (in shares) \| shares									3,000,000	3,000,000
William Bartels [Member]
Liability, Pension and Other Postretirement and Postemployment Benefits, Current									$ 58,000	$ 58,000
William Bartels [Member] \| The 2024 Stock Repurchase Program [Member]
Treasury Stock, Shares, Acquired (in shares) \| shares		1,000,000
Share Price (in dollars per share) \| $ / shares			$ 1.8
William Bartels [Member] \| Premium Adjustments [Member]
Related Party Transaction, Amounts of Transaction										200,000
William Bartels [Member] \| Remaining Premium Adjustments [Member]
Related Party Transaction, Amounts of Transaction										1,100,000
WB Marketing, Inc [Member] \| Service Fees [Member]
Related Party Transaction, Amounts of Transaction										$ 101,000

Condensed Consolidated Statements of Operations and Comprehensive Income (Loss) (Unaudited) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Net revenues	$ 37,788	$ 67,333	$ 163,771	$ 197,649
Related party - cost of revenues	0	1,628	0	4,807
Cost of revenues	29,346	52,332	131,801	152,235
Gross profit	8,442	13,373	31,970	40,607
Selling, general and administrative expense	8,558	11,284	27,707	32,345
Gain on sale of businesses	922	0	(11,154)	0
Depreciation and amortization	454	548	1,443	1,574
Operating (loss) income	(1,492)	1,541	13,974	6,688
Interest expense	582	380	1,678	1,248
Other expense (income), net	472	(164)	184	(347)
(Loss) Income before income tax expense	(2,546)	1,325	12,112	5,787
Income tax (benefit) expense	(2,314)	227	1,088	1,806
Net (loss) income	(232)	1,098	11,024	3,981
Net loss (income) attributable to non-controlling interest	88	(839)	(914)	(2,217)
Net (loss) income attributable to SPAR Group, Inc.	$ (144)	$ 259	$ 10,110	$ 1,764
Basic (loss) income per common share attributable to SPAR Group, Inc. (in dollars per share)	$ (0.01)	$ 0.01	$ 0.43	$ 0.08
Diluted (loss) income per common share attributable to SPAR Group, Inc. (in dollars per share)	$ (0.01)	$ 0.01	$ 0.43	$ 0.08
Weighted-average common shares outstanding – basic (in shares)	23,435	23,237	23,591	23,201
Weighted-average common shares outstanding – diluted (in shares)	23,435	23,376	23,768	23,350
Net income	$ (232)	$ 1,098	$ 11,024	$ 3,981
Other comprehensive loss
Foreign currency translation adjustments	(72)	(497)	(1,220)	(359)
Comprehensive (loss) income	(304)	601	9,804	3,622
Comprehensive (income) loss attributable to non-controlling interest	45	(688)	142	(1,788)
Comprehensive (loss) income attributable to SPAR Group, Inc.	$ (259)	$ (87)	$ 9,946	$ 1,834

Note 10 - Leases - Maturity of Lease Liability (Details) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
2024	$ 134
2025	438
2026	144
2027	114
2028	73
Total Lease Payments	903
Less: imputed interest	(65)
Present value of operating lease liabilities	$ 838	$ 2,323

Note 9 - Segment Information - Long Lived Assets (Details) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Long lived assets	$ 4,073	$ 6,345
Americas [Member]
Long lived assets	4,073	4,585
Asia Pacific [Member]
Long lived assets	0	1,015
EMEA [Member]
Long lived assets	$ 0	$ 745

Note 7 - Share-based Compensation

9 Months Ended

Sep. 30, 2024

Notes to Financial Statements

Share-Based Payment Arrangement [Text Block]

7.	Share-Based Compensation

Stock Options

For the three months ended September 30, 2024 and 2023, the Company recognized share-based compensation expense related to stock options of approximately $(20) thousand and $15 thousand, respectively. For the nine months ended September 30, 2024 and 2023, the Company recognized share-based compensation expense related to stock options of approximately $14 thousand and $45 thousand, respectively.

Restricted Stock Units

For the three months ended September 30, 2024 and 2023, the Company recognized share-based compensation expense related to restricted stock units of approximately $(129) thousand and $68 thousand, respectively. For the nine months ended September 30, 2024 and 2023, the Company recognized share-based compensation expense related to restricted stock units of approximately $93 thousand and $172 thousand, respectively.

2023 and 2022 Executive Deferred Compensation Agreements

The Corporation prepared a 2022 Stock Compensation Plan that would have included Awards for NQSOs and RSUs (as defined below), but that plan was never submitted to its shareholders for approval. However, the Board had previously approved, for certain key executives, incentive stock-based awards for 2023 and 2022 using RSUs or cash. Since there were no plan based RSUs available, those executives instead received deferred compensation in the form of Phantom Stock Units ("PSUs"), which correspond to an equal number of shares of the Corporation's Common Stock ("SGRP Shares"). The number of PSUs received equals the dollar value of the incentive award divided by the per share market price of SGRP shares on the date of award. Each PSU represents the right of the grantee to receive cash payments based on the fair market value of SGRP Shares at the time of vesting, but not to receive SGRP Shares themselves. The number of the Grantee's PSUs will be automatically adjusted to reflect the specified events respecting the SGRP Shares as provided in the applicable Phantom Stock Agreement. The PSUs do not possess the rights of common stockholders of the Corporation, including any voting or dividend rights, and cannot be exercised or traded for SGRP Shares.

Effective as of March 24, 2022 (the "2022 Grant Date"), the Corporation issued an award of 111,111 PSUs to each of its Executives: Kori G. Belzer; William Linnane; and Ron Lutz. Vesting will occur in three tranches of one-third each over the three (3) year period following the 2022 Grant Date, provided that: (i) the Grantee is an employee of the Company at the time; and (ii) the Corporation achieved 90% of the agreed upon financial target for 2022. As of December 31, 2023, the Company had determined that the 2022 performance target had not been met and the first tranche of those PSUs did not vest. The Board approved in October 2023 that the second and third tranches of those PSUs will respectively vest on the second and third anniversary of the 2022 Grant Date with no additional vesting criteria.

Effective as of April 3, 2023 (the "2023 Grant Date"), the Corporation granted an award of 181,818 PSUs to each of its Executives: Kori G. Belzer; William Linnane; and Ron Lutz. The PSUs granted and issued to each such grantee shall vest over the three-year period following the Grant Date provided that the Grantee is an employee of the Company on the applicable vesting date; and the first tranche of those PSUs was to have vested upon the achievement by the Company of 70% or greater of the budgeted 2023 Global EBIT. If the first-year metrics are achieved, the second and third tranches will respectively vest on the second and third anniversary of the 2023 Grant Date with no additional vesting criteria. As of March 31, 2024, the Company determined that the 2023 performance target had been met, the first tranche of those PSUs had vested, and the second and third tranches of those PSUs will respectively vest on the second and third anniversary of the 2023 Grant Date with no additional vesting criteria.

Effective as of the 2023 Grant Date, the Corporation also granted an award of 378,788 PSUs to Michael R. Matacunas, the Chief Executive Officer and President of the Corporation. All of the PSUs granted and issued to him will vest over a one-year period following the 2023 Grant Date provided that the Grantee is an employee of the Company on April 3, 2024, upon the achievement by the Company of 70% or greater of the budgeted 2023 Global EBIT. As of March 31, 2024, the Company had determined that the 2023 performance target had been met, and all of those PSUs have vested.

Effective as of the 2023 Grant Date, the Corporation also granted an award of 75,758 PSUs to Antonio Calisto Pato, the Chief Financial Officer, Secretary and Treasurer of the Corporation. All of the PSUs granted and issued to him will vest over the one-year period following the 2023 Grant Date provided that the Grantee is an employee of the Company on April 3, 2024, upon the achievement by the Company of 70% or greater of the budgeted 2023 Global EBIT. As of March 31, 2024, the Company had determined that the 2023 performance target had been met, and all of those PSUs have vested.

Note 2 - Summary of Significant Accounting Policies (Details Textual)	9 Months Ended
	Sep. 30, 2024
Number of Reportable Segments	3

Note 9 - Segment Information - Geographic Data (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Net revenues	$ 37,788	$ 67,333	$ 163,771	$ 197,649
Geographic Concentration Risk [Member] \| Revenue Benchmark [Member]
Net revenues			$ 163,771	$ 197,649
Percent of consolidated net revenue	100.00%	100.00%	100.00%	100.00%
UNITED STATES
Net revenues	$ 28,768	$ 28,722
UNITED STATES \| Geographic Concentration Risk [Member] \| Revenue Benchmark [Member]
Net revenues			$ 90,583	$ 81,004
Percent of consolidated net revenue	76.10%	42.70%	55.30%	41.00%
BRAZIL
Net revenues	$ 0	$ 18,619
BRAZIL \| Geographic Concentration Risk [Member] \| Revenue Benchmark [Member]
Net revenues			$ 33,185	$ 56,717
Percent of consolidated net revenue	0.00%	27.70%	20.30%	28.70%
SOUTH AFRICA
Net revenues	$ 0	$ 7,863
SOUTH AFRICA \| Geographic Concentration Risk [Member] \| Revenue Benchmark [Member]
Net revenues			$ 8,277	$ 25,759
Percent of consolidated net revenue	0.00%	11.70%	5.10%	13.00%
MEXICO
Net revenues	$ 3,196	$ 3,033
MEXICO \| Geographic Concentration Risk [Member] \| Revenue Benchmark [Member]
Net revenues			$ 9,723	$ 8,065
Percent of consolidated net revenue	8.50%	4.50%	5.90%	4.10%
CHINA
Net revenues	$ 0	$ 2,205
CHINA \| Geographic Concentration Risk [Member] \| Revenue Benchmark [Member]
Net revenues			$ 2,698	$ 7,106
Percent of consolidated net revenue	0.00%	3.30%	1.60%	3.60%
JAPAN
Net revenues	$ 908	$ 1,489
JAPAN \| Geographic Concentration Risk [Member] \| Revenue Benchmark [Member]
Net revenues			$ 3,778	$ 4,533
Percent of consolidated net revenue	2.40%	2.20%	2.30%	2.30%
CANADA
Net revenues	$ 3,529	$ 3,421
CANADA \| Geographic Concentration Risk [Member] \| Revenue Benchmark [Member]
Net revenues			$ 10,698	$ 8,671
Percent of consolidated net revenue	9.30%	5.10%	6.50%	4.40%
INDIA
Net revenues	$ 1,387	$ 1,577
INDIA \| Geographic Concentration Risk [Member] \| Revenue Benchmark [Member]
Net revenues			$ 4,829	$ 4,420
Percent of consolidated net revenue	3.70%	2.30%	3.00%	2.20%
AUSTRALIA
Net revenues	$ 0	$ 404
AUSTRALIA \| Geographic Concentration Risk [Member] \| Revenue Benchmark [Member]
Net revenues			$ 0	$ 1,374
Percent of consolidated net revenue	0.00%	0.60%	0.00%	0.70%

Note 10 - Leases - Lease Costs (Details) - USD ($)
$ in Thousands

3 Months Ended

9 Months Ended

Sep. 30, 2024

Sep. 30, 2023

Sep. 30, 2024

Sep. 30, 2023

Operating lease cost

$ 147

$ 71

$ 415

$ 212

Short-term lease cost

277

130

Variable costs

^[1]

Total lease cost

$ 169

$ 103

$ 692

$ 386

[1]	Variable lease expense consists primarily of property taxes, property insurance, and common area or other maintenance costs for the Company’s leases of office space.

Note 2 - Summary of Significant Accounting Policies

9 Months Ended

Sep. 30, 2024

Notes to Financial Statements

Significant Accounting Policies [Text Block]

2.	Summary of Significant Accounting Policies

The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”) and pursuant to the rules and regulations of the Securities and Exchange Commission (“SEC”) for interim financial statements. Certain information and note disclosures normally included in financial statements prepared in accordance with U.S. GAAP have been condensed or omitted pursuant to such rules and regulations. These unaudited condensed consolidated financial statements should be read in conjunction with the Company’s audited consolidated financial statements and the notes thereto for the year ended December 31, 2023 included in the 2023 Annual Report on Form 10-K that was filed with the Securities and Exchange Commission on April 1, 2024.

The unaudited condensed consolidated financial statements have been prepared on the same basis as the audited consolidated financial statements. In the opinion of management, the included disclosures are adequate, and the accompanying unaudited condensed consolidated financial statements contain all adjustments which are necessary for a fair presentation of the Company’s consolidated financial position as of September 30, 2024, consolidated results of operations and comprehensive income for the three and nine months ended September 30, 2024 and 2023, and consolidated cash flows for the nine months ended September 30, 2024 and 2023. Such adjustments are of a normal and recurring nature. The consolidated results of operations for the three and nine months ended September 30, 2024 are not necessarily indicative of the consolidated results of operations that may be expected for the year ending December 31, 2024.

Principles of Consolidation

The Company consolidates its 100%-owned subsidiaries and all of the 51%-owned joint ventures in which the Company has a controlling financial interest. All significant intercompany transactions have been eliminated in the unaudited condensed consolidated financial statements.

Use of Estimates

The preparation of the unaudited condensed consolidated financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, the amounts disclosed for contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of revenues and expenses during the reporting year. Significant balances subject to such estimates and assumptions include carrying amounts of property and equipment and intangible assets, valuation allowances for receivables, carrying amounts for deferred tax assets and liabilities, and liabilities incurred from operations and customer incentives. Actual results could differ from those estimates.

Segment Reporting

Reportable segments are components of the Company for which separate financial information is available that is evaluated on a regular basis by the Chief Operating Decision Maker ("CODM”) in deciding how to allocate resources and in assessing performance. The Company's CODM is the Chief Executive Officer.

The Company provides similar merchandising, marketing and business services and has three reportable regional segments: (i) Americas, which is comprised of United States, Canada, Brazil and Mexico; (ii) Asia-Pacific ("APAC”), which is comprised of Japan, China, and India; and (iii) Europe, Middle East and Africa ("EMEA”), which is comprised of South Africa. Certain corporate expenses have been allocated to segments based on each segment’s revenue as a percentage of total company revenue.

Recently Adopted Accounting Pronouncements

In November 2023, the FASB issued ASU No. 2023-07, Segment Reporting (Topic 280):Improvements to Reportable Segment Disclosures, which will require Companies to report additional segment information, including certain significant segment expenses, and permit the disclosure of additional measures of a segment’s profit or loss. The guidance will be effective for the Company’s fiscal year beginning January 1, 2024 and for interim periods thereafter. The Company adopted ASU No. 2023-07 on January 1, 2024 and the impact was not material.

Recently Issued Accounting Pronouncements Not Yet Adopted

In August 2023, the FASB issued ASU No. 2023-05, Business Combinations – Joint Venture Formations (Subtopic 805):Recognition and Initial Measurement, which will require joint ventures to recognize and initially measure its assets and liabilities at fair value upon formation. The guidance will be effective for the Company prospectively for all joint venture formations on or after January 1, 2025. Early adoption and retrospective application is permitted. The Company does not believe adoption will have a material effect on its consolidated financial statements and related disclosures.

In December 2023, the FASB issued ASU No. 2023-09, Income Taxes (Topic 740):Improvements to Income Tax Disclosures, which will require Companies to report specific categories of rate-reconciliation, certain details of income taxes paid and of certain information by tax jurisdictions. The guidance will be effective for the Company’s fiscal year beginning January 1, 2025. The Company is currently evaluating the impact adoption will have on its consolidated financial statements and related disclosures.

Note 11 - Earnings Per Share (Tables)

9 Months Ended

Sep. 30, 2024

Notes Tables

Schedule of Earnings Per Share, Basic and Diluted [Table Text Block]

	Three Months Ended					Nine Months Ended
	September 30,					September 30,
	2024			2023		2024		2023
Numerator:
Net (loss) income attributable to SPAR Group, Inc.	$	(144	)	$	259	$	10,110	$	1,764

Denominator:
Shares used in basic net income per share calculation		23,435			23,237		23,591		23,201
Effect of diluted securities:
Stock options and unvested restricted shares		-			139		177		149
Shares used in diluted net income per share calculations		23,435			23,376		23,768		23,350

Basic (loss) income per common share attributable to SPAR Group, Inc.	$	(0.01	)	$	0.01	$	0.43	$	0.08
Diluted (loss) income per common share attributable to SPAR Group, Inc.	$	(0.01	)	$	0.01	$	0.43	$	0.08

Insider Trading Arrangements

3 Months Ended

9 Months Ended

Sep. 30, 2024

Insider Trading Arr Line Items

Material Terms of Trading Arrangement [Text Block]

Item 5.

Other Information

Not applicable.

Rule 10b5-1 Arrangement Adopted [Flag]

false

Non-Rule 10b5-1 Arrangement Adopted [Flag]

false

Rule 10b5-1 Arrangement Terminated [Flag]

false

Non-Rule 10b5-1 Arrangement Terminated [Flag]

false

Note 3 - Debt - Unused Availability (Details) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Unused Availability	$ 11,692	$ 8,589
United States / Canada [Member]
Unused Availability	11,692	6,525
SOUTH AFRICA
Unused Availability	$ 0	$ 2,064

Condensed Consolidated Statement of Stockholders' Equity (Unaudited) - USD ($) shares in Thousands, $ in Thousands	Common Stock, Outstanding [Member]	Preferred Stock [Member]	Treasury Stock, Common and Preferred [Member]	Additional Paid-in Capital [Member]	AOCI Attributable to Parent [Member]	Retained Earnings [Member]	Noncontrolling Interest [Member]	Total
Balance (in shares) at Dec. 31, 2022	22,961	855	205
Balance at Dec. 31, 2022	$ 229	$ 9	$ (285)	$ 20,708	$ (4,941)	$ 6,707	$ 15,634	$ 38,061
Share-based compensation				173				173
Conversion of preferred stock to common stock (in shares)	307	(205)	0
Conversion of preferred stock to common stock	$ 4	$ (2)	$ 0	3	0	0	0	5
Other comprehensive income (loss)	0	0	0	0	85	0	92	177
Net income	0	0	0	0	0	866	911	1,777
Dividend to NCI	$ 0	$ 0	$ 0	0	0	0	(334)	(334)
Balance (in shares) at Mar. 31, 2023	23,268	650	205
Balance at Mar. 31, 2023	$ 233	$ 7	$ (285)	20,884	(4,856)	7,573	16,303	39,859
Balance (in shares) at Dec. 31, 2022	22,961	855	205
Balance at Dec. 31, 2022	$ 229	$ 9	$ (285)	20,708	(4,941)	6,707	15,634	38,061
Net income								3,981
Balance (in shares) at Sep. 30, 2023	23,241	650	205
Balance at Sep. 30, 2023	$ 232	$ 7	$ (285)	20,928	(4,871)	8,471	15,288	39,770
Balance (in shares) at Dec. 31, 2022	22,961	855	205
Balance at Dec. 31, 2022	$ 229	$ 9	$ (285)	20,708	(4,941)	6,707	15,634	38,061
Balance (in shares) at Dec. 31, 2023	23,241	650	205
Balance at Dec. 31, 2023	$ 232	$ 7	$ (285)	21,004	(3,341)	10,609	12,020	40,246
Balance (in shares) at Mar. 31, 2023	23,268	650	205
Balance at Mar. 31, 2023	$ 233	$ 7	$ (285)	20,884	(4,856)	7,573	16,303	39,859
Share-based compensation				(39)				(39)
Other comprehensive income (loss)	0	0	0	0	331	0	(370)	(39)
Net income	0	0	0	0	0	639	467	1,106
Purchase of non-controlling interest	0	0	0	0	0	0	(460)	(460)
Dividend to NCI	$ 0	$ 0	$ 0	0	0	0	(850)	(850)
Retirement of shares (in shares)	(35)	0	0
Balance (in shares) at Jun. 30, 2023	23,233	650	205
Balance at Jun. 30, 2023	$ 233	$ 7	$ (285)	20,845	(4,525)	8,212	15,090	39,577
Share-based compensation				83				83
Other comprehensive income (loss)	0	0	0	0	(346)	0	(151)	(497)
Net income	$ 0	$ 0	$ 0	0	0	259	839	1,098
Exercise of stock options (in shares)	8	0	0
Exercise of stock options	$ (1)	$ 0	$ 0	0	0	0	0	(1)
Dividend to NCI	$ 0	$ 0	$ 0	0	0	0	(490)	(490)
Balance (in shares) at Sep. 30, 2023	23,241	650	205
Balance at Sep. 30, 2023	$ 232	$ 7	$ (285)	20,928	(4,871)	8,471	15,288	39,770
Balance (in shares) at Dec. 31, 2023	23,241	650	205
Balance at Dec. 31, 2023	$ 232	$ 7	$ (285)	21,004	(3,341)	10,609	12,020	40,246
Share-based compensation				128				128
Conversion of preferred stock to common stock (in shares)	975	(650)	0
Conversion of preferred stock to common stock	$ 10	$ (7)	$ 0	(1)	0	0	0	2
Sale of joint ventures	0	0	0	0	712	(712)	(4,981)	(4,981)
Other comprehensive income (loss)	0	0	0	0	(2,030)	0	(490)	(2,520)
Net income	$ 0	$ 0	$ 0	0	0	6,627	554	7,181
Balance (in shares) at Mar. 31, 2024	24,216	0	205
Balance at Mar. 31, 2024	$ 242	$ 0	$ (285)	21,131	(4,659)	16,524	7,103	40,056
Balance (in shares) at Dec. 31, 2023	23,241	650	205
Balance at Dec. 31, 2023	$ 232	$ 7	$ (285)	21,004	(3,341)	10,609	12,020	40,246
Net income								11,024
Balance (in shares) at Sep. 30, 2024	23,448	0	1,205
Balance at Sep. 30, 2024	$ 234	$ 0	$ (2,075)	13,151	(2,022)	20,007	246	29,541
Balance (in shares) at Mar. 31, 2024	24,216	0	205
Balance at Mar. 31, 2024	$ 242	$ 0	$ (285)	21,131	(4,659)	16,524	7,103	40,056
Share-based compensation				128				128
Sale of joint ventures	0	0	0	(7,518)	1,412	0	(4,509)	(10,615)
Other comprehensive income (loss)	0	0	0	0	979	0	393	1,372
Net income	$ 0	$ 0	$ 0	0	0	3,627	448	4,075
Exercise of stock options (in shares)	204	0	0
Exercise of stock options	$ 2	$ 0	$ 0	(403)	0	0	0	(401)
Purchase of non-controlling interest	0	0	0	0	0	0	(2,115)	(2,115)
Purchase of treasury shares	$ (10)	$ 0	$ (1,790)	0	0	0	0	(1,800)
Balance (in shares) at Jun. 30, 2024	23,420	0	1,205
Balance at Jun. 30, 2024	$ 234	$ 0	$ (2,075)	13,338	(2,268)	20,151	1,320	30,700
Purchase of treasury shares (in shares)	(1,000)	0	1,000
Share-based compensation	$ 0	$ 0		(149)				(149)
Sale of joint ventures	0	0	$ 0	(38)	273	0	(941)	(706)
Other comprehensive income (loss)	0	0	0	0	(27)	0	(45)	(72)
Net income	$ 0	$ 0	$ 0	0	0	(144)	(88)	(232)
Exercise of stock options (in shares)	28	0	0
Exercise of stock options	$ 0	$ 0	$ 0	0	0	0	0	0
Balance (in shares) at Sep. 30, 2024	23,448	0	1,205
Balance at Sep. 30, 2024	$ 234	$ 0	$ (2,075)	$ 13,151	$ (2,022)	$ 20,007	$ 246	$ 29,541

Note 4 - Commitments and Contingencies

9 Months Ended

Sep. 30, 2024

Notes to Financial Statements

Commitments and Contingencies Disclosure [Text Block]

4.	Commitments and Contingencies

Legal Matters

The Company is a party to various legal actions and administrative proceedings arising in the normal course of business. In the opinion of Company's management, resolution of these matters is not anticipated to have a material adverse effect on the Company or its estimated or desired affiliates, assets, business, clients, capital, cash flow, credit, expenses, financial condition, income, legal costs, liabilities, liquidity, locations, marketing, operations, prospects, sales, strategies, taxation or other achievement, results or condition.

Note 11 - Earnings Per Share

9 Months Ended

Sep. 30, 2024

Notes to Financial Statements

Earnings Per Share [Text Block]

11.

Earnings Per Share

The following table sets forth the computations of basic and diluted net income per share (in thousands, except per share data):

	Three Months Ended					Nine Months Ended
	September 30,					September 30,
	2024			2023		2024		2023
Numerator:
Net (loss) income attributable to SPAR Group, Inc.	$	(144	)	$	259	$	10,110	$	1,764

Denominator:
Shares used in basic net income per share calculation		23,435			23,237		23,591		23,201
Effect of diluted securities:
Stock options and unvested restricted shares		-			139		177		149
Shares used in diluted net income per share calculations		23,435			23,376		23,768		23,350

Basic (loss) income per common share attributable to SPAR Group, Inc.	$	(0.01	)	$	0.01	$	0.43	$	0.08
Diluted (loss) income per common share attributable to SPAR Group, Inc.	$	(0.01	)	$	0.01	$	0.43	$	0.08

Note 5 - Common Stock

9 Months Ended

Sep. 30, 2024

Notes to Financial Statements

Common Stock [Text Block]

5.	Common Stock

As of September 30, 2024, the Corporation’s certificate of incorporation authorized the Corporation to issue 47,000,000 shares of common stock, par value $0.01 per share.

The voting, dividend and liquidation rights of the holders of the Corporation’s common stock are subject to and qualified by the rights, powers and preferences of the holders of the Corporation’s Series B convertible preferred stock. Each share of the Corporation’s common stock is entitled to one vote on all matters submitted to a vote of the Corporation’s stockholders. Holders of the Corporation’s common stock are entitled to receive dividends as may be declared by the Corporation’s board of directors (the "Board"), if any, subject to the preferential dividend rights of the Corporation’s Series B convertible preferred stock. No cash dividends had been declared or paid during the periods presented.

2024 Stock Repurchase Program

On March 28, 2024, the Board approved SGRP's repurchase of up to 2,500,000 of SGRP's Shares of Common Stock ("SGRP Shares") under the 2024 Stock Repurchase Program (the "2024 Stock Repurchase Program"), which repurchases would be made from time to time over a one-year period in the open market and through privately-negotiated transactions, subject to cash availability and general market and other conditions. Pursuant to the 2024 Stock Repurchase Program, on May 3, 2024, SGRP's Board and its Audit Committee approved SGRP's Repurchase Agreement with William H. Bartels for SGRP's private repurchase of 1,000,000 shares of SGRP's Common Stock from William H. Bartels, dated and effective as of April 30, 2024, at a purchase price of $1.80 per share (the Nasdaq closing price on April 29, 2024). Mr. Bartels is a Director and significant stockholder of SGRP, is one of the founders of the Company, and is an affiliate and related party of SGRP. There have been no other share repurchases to date under the 2024 Stock Repurchase Program.